Company Number: 12543941

Analysis Date: 2025-07-20 13:01 UTC

1. Risk Rating: HIGH
   The company exhibits significant solvency risk, evidenced by net liabilities and negative shareholders' funds in the latest financial year. The complete erosion of current assets to zero is a critical liquidity concern.

2. Key Concerns:

• Negative Net Assets: The company’s net assets deteriorated from £72,882 positive in 2023 to a negative £1,556 in 2024, indicating solvency distress.
• Zero Current Assets: Reporting zero current assets as of 31 March 2024 implies no liquid resources to cover immediate liabilities (£1,556), highlighting liquidity risk.
• No Employees and Minimal Share Capital: With zero employees and a nominal share capital of £1.00, operational capacity appears minimal or non-existent, questioning sustainability.

3. Positive Indicators:

• No Overdue Filings: The company has filed accounts and confirmation statements on time, demonstrating compliance with statutory obligations.
• Established Director and PSC: The sole director and person with significant control is consistent and transparent, reducing governance ambiguity.
• Micro-Entity Status: Filing under micro-entity provisions simplifies compliance and may reduce administrative burdens.

4. Due Diligence Notes:

• Investigate the cause of the sharp decline in current assets from £74,439 to zero within one year and whether this reflects a major write-off, disposal, or accounting anomaly.
• Review cash flow statements or management accounts for evidence of ongoing trading or operational activity given zero employees and minimal assets.
• Clarify ownership structure changes, particularly the role of Acex International Limited as a PSC notified in late 2023, and potential impact on control and financial support.
• Assess any contingent liabilities or off-balance sheet obligations that may exacerbate financial distress.
• Confirm whether the company’s business model remains viable given the negative equity and absence of fixed or current assets.